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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income        
Interest and fees on loans (includes tax-exempt income of $577,000 YTD June 30, 2021 and $608,000 YTD June 30, 2020) $ 14,840 $ 14,159 $ 29,959 $ 30,015
Interest on deposits with other banks 12 5 24 79
Interest and dividends on investments (includes tax-exempt income of $3,894,000 YTD June 30, 2021 and $3,733,000 YTD June 30, 2020) 3,689 4,622 7,511 9,386
     Total interest income 18,541 18,786 37,494 39,480
Interest expense        
Interest on deposits 1,948 3,561 4,146 8,747
Interest on borrowed funds 870 734 1,752 1,324
     Total interest expense 2,818 4,295 5,898 10,071
Net interest income 15,723 14,491 31,596 29,409
Provision for loan losses 525 2,350 1,050 2,750
Net interest income after provision for loan losses 15,198 12,141 30,546 26,659
Non-interest income        
Net securities gains 45 427 164 1,179
Other operating income 1,978 1,576 3,788 3,070
     Total non-interest income 4,911 4,601 10,209 8,822
Non-interest expense        
Salaries and employee benefits 5,053 4,662 10,176 9,687
Occupancy expense 660 695 1,413 1,408
Furniture and equipment expense 1,185 1,138 2,400 2,254
FDIC insurance premiums 192 186 391 359
Amortization of identified intangibles 18 11 35 22
Other operating expense 2,388 2,225 4,955 6,230
     Total non-interest expense 9,496 8,917 19,370 19,960
Income before income taxes 10,613 7,825 21,385 15,521
Income tax expense 1,826 1,256 3,676 2,457
NET INCOME $ 8,787 $ 6,569 $ 17,709 $ 13,064
Basic earnings per common share (usd per share) $ 0.81 $ 0.61 $ 1.63 $ 1.20
Diluted earnings per common share (usd per share) $ 0.80 $ 0.60 $ 1.61 $ 1.20
Other comprehensive income (loss) net of tax        
Net unrealized gain (loss) on securities available for sale $ 971 $ (790) $ (3,819) $ 3,443
Net unrealized gain on securities transferred from available for sale to held to maturity, net of amortization 11 28 20 36
Net unrealized gain (loss) on cash flow hedging derivative instruments (620) (1,414) 2,849 (6,284)
Other comprehensive gain (loss) 362 (2,176) (950) (2,805)
Comprehensive income (loss) 9,149 4,393 16,759 10,259
Investment management and fiduciary income        
Non-interest income        
Non-interest income 1,152 909 2,217 1,803
Service charges on deposit accounts        
Non-interest income        
Non-interest income 382 305 719 882
Mortgage origination and servicing income, net of amortization        
Non-interest income        
Non-interest income $ 1,354 $ 1,384 $ 3,321 $ 1,888